Financials: Out of Favor Again?

(1) Bronx cheer. (2) C&I loans and flatter yield curve are turn-offs. (3) Net interest margins expanding. (4) Capital markets issuance boom may explain weakness in business loan demand. (5) No alarms about credit quality, even in auto loans, on bank conference calls. (6) Goldman was an outlier with a miss for a change. (7) S&P 500/400/600 forward revenues and earnings continue to rise in record territory.